Litecoin Intraday: the upside prevails as long as 87.6 is support
Litecoin (LTC/USD)
+5.82+6.97%
the upside prevails as long as 87.6 is support.
87.6 is our pivot point.
Our preference: the upside prevails as long as 87.6 is support.
Alternative scenario: the downside breakout of 87.6 would call for 85.4 and 84.2.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 85.6 and 85.4).
Supports and resistances:
96.6 **
95.3 *
94.0 **
92.7
89.9 last
88.4
87.6 **
85.4 *
84.2 **
Our preference: the upside prevails as long as 87.6 is support.
Alternative scenario: the downside breakout of 87.6 would call for 85.4 and 84.2.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 85.6 and 85.4).
Supports and resistances:
96.6 **
95.3 *
94.0 **
92.7
89.9 last
88.4
87.6 **
85.4 *
84.2 **
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